What you need to know about the Renters' Rights Act

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1:54Después de años de campaigning de grupos de grupos, el Renter's Rights Act finalmente se va a cabo en 1 de mayo. En este episodio, me voy a hablar con el Estández Homes y Property Editor, Prudence Ivey, sobre las próximas cambios de rentas.

2:14Aquí es mi chat con Prudence.

2:21Prudence, gracias por venir a la Estández Podcast. Gracias por haberme. Gracias por haberme. So Prudence, the Renters' Rights Act is coming in force this week. This is a huge piece of legislation that gives renters a lot more power and security. So I'd like to start with a temperature check. How have renters reacted on the whole? This is largely positive for renters. But one thing that research has shown is actually a lot of renters still aren't aware that this is even happening. Y a mi honesto, que es un gran parte de la legislación que se ha hecho, es saber sus derechos y cómo ejercicio sus derechos.

3:01Así que, vamos a empezar por hablar de una de las más fundamentales cambios sobre la legislación, y que es la change de renta contrata. Así que, por un tiempo, hemos tenido ASTs. Estas son Assured Short-Hole Tenancies. Así que, ¿cómo se han hecho renta agreements? ¿Cómo se han hecho? Essentially, they won't be assured shorthold tenancies anymore. Basically, there are no more fixed-term contracts. All renters will have two months' notice to give their landlord if they want to move out, and it's just rolling contracts from now on. Right, and Prudence, one of the biggest criticisms of rental regulations for a long time has been Section 21, or no-fault evictions, where landlords can decide to evict a tenant sin ningún motivo, y con solo dos meses de notice.

3:52Y muchos de los renters han sido estungado por Section 21. ¿Cómo es el Renta de Rights Act addressing este problema? Bueno, se han abolido el no-fault evidio, así que no hay más de Section 21 evidios. Hay que todavía no hay razón por la que se ha dado notice por su landlord. La razón que un landlord va a poder pedir que te quiera dejar sin ningún problema son que quieren volver a la casa, o que su familia van a volver a la casa, o que quieren vender la casa. Durante el nuevo Renter's Rights Act, los autos en nuevos leyeses tienen un año de seguridad de la casa, a los autos en los que se pueden servir a notice después de 8 meses, giving los autos 4 meses de notice a la casa.

4:42A group of renters who have historically struggled are pet owners. How will they be treated come the introduction of the Renters' Rights Bill? So the Renters' Rights Bill doesn't automatically give you the right to have pets in a rented property still, but it does give you the right to ask. And as far as I can tell, landlords have to give you a good reason if they say, you know, they have to consider it fairly as the wording. y además de eso, hay un push para tener más opciones para los landlords para insurrances cuando tienen tenencia con pets. Es también importante que muchos de los problemas no han sido solo de los que los landlords son bien o vindictivo o quieren ser unfair.

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5:54Petamente No sé de a positiva But mejormos a míle Fair enough Pudence ¿것 одной Gotcha! Puente究 men pattern Rental increases under the new Renters' Rights Act. So landlords can only raise the rent once a year and renters can challenge what they say is unfair hikes. They've steered clear of saying, you know, this will be 10 % or whatever. They haven't given a figure there. So what renters would have to do is gather evidence, probably from other local rents, from averages, from things like that and challenge with a lot of their own evidence I would say but again we'll see. It's good that there's an official provision, you've always unofficially been able to challenge rent hikes and I've always done it whenever I've been renting, when my landlords wanted to put the rent up, we've always negotiated because obviously you know inflation exists there's usually a fair amount they can put it up I've never been in a situation where a landlord has only asked to put the rent up by the amount of inflation It's always been more than that, but you know, there is always wiggle room there.

7:03It's good that there's an official channel. Will it make rents cheaper? Probably not. Will it make rents more secure? Well, yes, that is probably the case. And I think that's what the private rental sector has been missing is stability. People are renting older, they're renting for longer. More and more people are in private rentals. A lot of people who would be in social housing are now in private rentals. A lot of housing benefit is going into private rentals. Stability is going to be really good for all of those people. So it's positive, even if it maybe doesn't go far enough. But rent caps have their own problems.

7:42They're not necessarily the solution here. I'm not saying what's in the bill is the solution, but rent caps are a bit of a blood tool. So landlords are not going to be able to just slap on, you know, £200,£300 increases as they see fit. y say your rental contract is up y you're looking for a new place ¿qué son las diferencias que te encuentras cuando trying to acquire a new rental property? So when you're searching for a home one of the big things that has been such a bugbear of private renters in London especially when the market's really hot what you often have found is you go to those viewing days where there's 20 other people there and you're bidding for a rental so it'll be advertised at a price y te unas rien y vas abenar aOnly

8:53y las cosas que pugnatas unaauer de niżовidad One of the clauses is no more bidding wars. So landlords have to stick to the advertised rent price and they cannot let tenants compete on how much they will pay. So while on the one hand, this might mean that advertised rents are higher, it does mean, you know, what you see is what you get. You can search within your price bracket and you know that it won't go for more than it's advertised for. As things all level out, It should just make for more stable pricing. The other difference is, it used to be that you could maybe secure a property and like get in there when there was a lot of competition by saying, oh, well, look, I'll pay six months up front.

9:35I'll pay a year up front. I'll pay, you know, whatever, three years up front. And that would be the thing to nab it. That would be what would nab it because a landlord would be like, yeah, cash now. And I don't have to worry about you paying your rent and all of that. But obviously that can be hundreds of thousands of pounds. That practice is now being banned. The only thing they can ask for is one month's rent up front. So that's paying your rent a month in advance. That's the most they can ask for. You can't be discriminated against. So a landlord can't refuse you because you have children. They can't refuse you because you're on benefits.

10:06They used to have the right to decline on that basis. Obviously, they don't have to accept you as a tenant. So you'd have to prove discrimination. But they can't just say, no, I'm not renting to people with kids. no I'm not renting to people on benefits anymore and then obviously yeah there's the terms of the contract so like you need to make sure that you're not being still offered an assured shorthold tenancy because that won't be valid anymore and possibly it will encourage maybe more serious behaviour from landlords and possibly more fairness from unscrupulous agents I mean a lot of rules have been already come into force to change letting agents behavior because yeah as you say a lot of these practices weren't coming from landlords they were coming from dodgy lettings agents charging crazy fees for things and all the rest but yeah I think I think it's a fairer and more balanced system which as I've already said is good for good landlords and it's good for tenants I guess on the flip side it might make it more difficult for tenants to find properties if their income is more unstable say they work you know as a freelancer or in the creative industries where you know things are tough right now being able to pay six months rent up front was an assurance that you can pay so surely it might get harder for renters who don't have a traditional kind of pattern of salaried income to find a rental property yeah i wonder i mean that would be an interesting byproduct of the regulation I mean maybe there's something in the detail that will help with that or maybe they'll just have to have a guarantor or prove that they've been paying rent already, yeah I'm really not sure.

11:56Well the legislation is also new so it'll be interesting to see how it all shakes out

12:03We'll take a quick break here Coming up Prudence and I discuss what is not covered in the Renters Rights Act el efecto que la legislación podría tener en el mercado de renta y si la labor de trabajo usará esta nueva legislación en una campaña para ganar a los londoneros antes de las elecciones de la próxima. Nos volveremos aquí en un momento.

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14:39La verdad es que es un buen trabajo para los renters y, you know, para los landlords realmente, para que se sienten a la venta de la venta de la venta de la venta de la venta. They're providing a service, people are paying for it. It's quite surprising it's taken so long to put these measures into place from a consumer rights perspective. The landlord lobby is very, very strong. And you're right, yeah, from a consumer rights perspective. Previously, you had more rights if you bought a pair of tights from a high street shop and they were defective and you wanted to return them. You had more ability to action that than you did if your home was causing you serious health problems.

15:25Which is quite astounding given how much money people are spending on renting. But, you know, actually sensible lettings agents, sensible landlords are not seeing these changes as a really terrible thing for them. It is making renting less combative, less oppositional, less kind of peripatetic. You know, like having a good tenant is a real benefit to landlords. If they pay their rent on time and they're looking after your house, you know, why mess with that? Like void periods are terrible for landlords. You end up with, you know, an empty flat for one, two, three months. That's a lot of money you're losing.

16:05You still, if you have a buy-to-let mortgage, you still have to cover that. So, you know, these aren't actually negative changes for landlords unless you're a bad landlord, in which case, you know, you get what's coming to you. Pero si eres un buen Estos cambios no pueden Mocer que mucho diferencia Y pueden hacer Mocer a lot easier Y hablando de Los landlords y su respuesta Prudence, quiero preguntar Entre la renta de la renta Interest rates, flat Property growth, capital gains Taxes, y el riesgo Que un granjón de la tendencia Que un granjón de la tendencia Que no puede evoc Some landlords might just give up And think oh god there are easier ways I can make money, this just seems like too much Of a hassle, you know I should sell up And then that can affect the stock On the rental market, have you seen in the past Few months that the rental stock Is dramatically down So interestingly there was some research Released recently that found That actually Very few tenants are being Evicted as a direct Response to the Renters' Rights Act coming into force.

17:16So there was a big fear that loads of tenants would be evicted because landlords would be like, no, we've got to get rid of you and then start again on a higher rent or whatever it may be. But actually, it's very low numbers that is happening to. Far more are having to move because their landlord is selling, because their landlord has decided to stop being a landlord, basically. Because as you say, tax changes, new regulation, que ya existen, lo que tiene files kan más financiera Leahnie A nuestro Hayoque realmente包ionando T moto La principal es una bret龍 es una bret龍 People may be threatened.

18:10Something else that's missing really from this bill is the idea of rent controls. I spoke to Joe Beswick of the London Renters' Union recently on the podcast, and he sees the rent controls as the final element that really levels the playing field for renters and sort of democratises London. Are you surprised that the Renters' Rights Act didn't include rent caps? ¿O do you think that the new provisions for tenants to dispute rental increases Are actually far enough to keep landlords happy And kind of keep the private sector going? No, I wasn't at all surprised that there isn't a provision for rent caps In the new legislation I don't think it would have ever got through Parliament if there were Rent control is obviously a really appealing prospect Especially if you're a renter pero es es es es es es es es es es es es es es es es es es es es es es cities donde hay rent control es almost impossible to find a rental apartment Berlin es a city of sublet largely as a result of rent controls for example as to whether being able to challenge a rent rise is enough I think we're just going to have to see.

19:36And do you think the dynamics around the Renters' Rights Act will actually help renters to buy? Say there are more flats in the market, the value of the flats drops, maybe some of those renters will actually become buyers. I don't think that it's going to be a huge boost for all renters. Buying is still really expensive. You know, even if prices come down less than you know we're looking at loan to income ratios that were maybe 13 going down to sort of 11 and the ideal loan to income rate you know the sort of the amount you get a mortgage on is 4.5 times your salary so we're still looking at like largely unaffordable buying prospects for a lot of people in London even if prices come down you know a bit renting is still expensive even Cuando Мос Wrestle teilweise, to force, it will still be taking up a lot of people's income for a long time.

20:36And also, let's not forget, interest rates are still high and a bit sort of shaky, but if you are in a position to buy anyway, you might find that you get a better deal than you would have done previously.

20:58Y, finalmente, Prudence La London Council elections Are happening next week ¿Do you think the introduction of this bill Will help Labour score points with Londoners? To be honest, I think it should I actually haven't seen them Kind of trying to use it that much But it seems like a missed trick It seems quite strange Yeah, that does seem like a missed trick Interesting, ¿por qué no trabajando en el PartiHQ?

21:26Honestly, es weird, ¿no? I just haven't heard that much about it y yo creo que beyond lo que yo estoy viendo en el personal, no he tenido que verlos en mi puerta con mi puerta diciendo que, you know, que la gente está en ayudar a los renters y, you know, que es significante en Londres como todos los privateos renters en el UK viviendo en Londres Es un gran problema, ¿no? No sé por qué no se ha hecho por qué no se ha hecho más de un dance ¿Es porque hay también muchos de los privados Aquí? Pero no sé Pero yo me he pensé que se ha cambiado Y a lo más Good point El Green Party está bien Estando con los estrellas Están con los estrellas Están con los estrellas Y están tratando de Estirar el unión limelight Selejía un poco odd Bueno, let's watch this space Maybe as of Friday They'll do a little bump Just en el run-up a la local elections.

22:18I suppose maybe they're worried about being asked questions because, I mean, one thing that's missing from this is a lot of detail on how things like the ombudsman is going to be funded, how councils are actually going to be able to enact their additional powers they've been given. So, you know, it's all well and good saying you can do this, but you still need qualified people to go and inspect properties, for example, or shut them down or whatever it may be. So without a fairly substantial boosts to funding for these things also going through the courts is very delayed at the moment so that's the big question is how it's actually going to be enacted in practice And Prudence for those who want to know more about how the Renters Rights Act is going to work where can they find the information?

23:04Well you can pick up a copy of the Standard on Thursday where we've got an amazing feature by our writer Emma Magnus who is looking into cómo el cambio de cambios afectados y los lindos en Londres. Así que todo lo que necesitas saber. Pero si quieres ver en el momento, gov.uk tiene todo el contenido de información. Bueno, gracias mucho Prudence por compartir todo tu sabores sobre el tema. Gracias.

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